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The NBS General PMI (Purchasing Managers' Index) is a composite indicator that provides a comprehensive overview of China's economic activity by combining the manufacturing and non-manufacturing sectors. It is based on monthly surveys of enterprise purchasing managers and serves as a leading indicator of economic health. A reading above 50 indicates expansion, while below 50 indicates contraction in the overall economy.
The index is calculated as a weighted average of the Manufacturing PMI and the Non-Manufacturing PMI. The weights are assigned based on the relative contribution of each sector to China's total GDP.